You and Us. UBS and The Cops
“Keeping Our Word,” “Trustworthiness,” and Other Corporate Myths I guess I’m grumpy most about hypocrisy. While the Right spins “values” into political gold, appealing to the righteousness gene in Americans, they spin a parallel theology, the holiness of “the market.” So it’s time (again and again) to look at actions, not words. Is the market actually self-correcting? Do market excesses and dishonesties actually fix themselves when the cop isn’t on the beat? Apparently not. In the Weekend Edition of The Wall Street Journal, two stories leap off the pages and slam into my hypocrisy button. 1. Corporations have been trying to save money by screwing their older employees by “freezing” their pension plans. Congress (a reluctant cop) tried to stop the vicious practice, but they did an inadequate job. Plus the offended corporations did what they do best, bribed the cops. According to the WSJ article , “Employers responded with a volley of lobbying, en...